TAX CREDITS AVAILABLE TO BUSINESSES IN THE UNION COUNTY OPPORTUNITY ZONES

Our Union County community now has 3 Opportunity Zones

What are Opportunity Zones?
Opportunity Zones are areas designated by the State that are within or adjacent to areas of higher poverty rates and that also are within a State Enterprise Zone or Urban Redevelopment Area.

Why are Opportunity Zones important?
They benefit businesses within them by offering tax credits that can be used against Georgia income tax liability AND Georgia withholding taxes.

How much are the credits and how do businesses get them?
Any business that creates 2 or more jobs in a year can claim the $3,500 credit per job created for five consecutive years. Businesses must physically be in the Zone and maintain the created jobs for the duration of the credit. Credits can be used to offset up to 100% of State income tax liability and any additional credits can be used against withholding, making this a potential cash benefit to qualifying businesses!

Plan to attend one of the Opportunity Zone Tax Credit workshops.

When: Monday, September 27, 2010
Time: 7:30am - 8:30am and 5:30pm - 6:30pm
Where: North Georgia Technical College, Blairsville Conference Center No fee or registration is required and all area businesses are encouraged to attend.